Striking it rich isn't a one time occurrence. It takes a lot of hard work.
I studied the habits of 233 millionaires and found out how they use their time. They all shared six principles that helped them build wealth.
Anyone can start working to become a millionaire by implementing these.
Learning and self- improvement were priorities for millionaires.
Sixty-one percent said they practiced new skills for at least two hours a day, and 39 percent said they took a few minutes every day to learn new words. More than half of them said they listened to audiobooks during their commute.
A majority of people said they read self help books. They like biographies of successful people.
The "5:1 listening rule" was one of the strategies that came up during my interviews.
Millionaires listen for five minutes for every minute they speak. They were able to strengthen their work relationships and get different opinions on an issue.
81% of people said that they seek feedback from other people every day.
98% of self-made millionaires work at least 50 hours a week. They didn't work alone and many succeeded because they focused on their strengths.
They delegated someone who was great at it so they could focus on the bigger picture and have more time and mental energy to execute it.
It was possible for them to go the distance with their goals if they surround themselves with people who share their vision.
A lot of the millionaires in my study used a strategy called Dream-Setting. They wrote out what their ideal life would look like 10 years down the road.
One of the millionaires in my study was a big fan of wine and thought he could make millions investing in it. He was undeterred despite his family and friends not believing it was possible.
He was an expert in the industry for fifteen years. He was able to buy a home on the beach in Florida after selling a small portion of his wine collection.
He made millions of dollars because he refused to give up on his idea.
More time is needed to create more wealth because of good health.
A millionaire had trouble with her weight. She walked one mile a day. She went from one mile to two and then three.
She had run three marathons. She attributed her energy, focus and drive to her fitness goals.
99% of millionaires in my study said that they never gamble.
Taking a gamble on something new is the reason for luck. Many of the millionaires were able to see what wasn't visible to others and come up with solutions.
Success comes to those who persist on their goals and dreams.
Tom Corley is an accountant, financial planner and author of "Rich Kids: How to Raise Our Children to be Happy and Successful in Life".
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